Asia Mixed, RBA Holds Steady on Policy

Shares in Asia-Pacific were mixed on Tuesday, after major indexes on Wall Street surged to record closing highs overnight stateside.

The Nikkei 225 docked 392.62 points, or 1.3%, Tuesday to 29.696.63.

The Japanese yen traded at 110.38 per U.S. dollar, weaker than levels around 109.5 against the greenback seen last week.

Hong Kong’s Hang Seng Index remained shuttered for holiday.

The Reserve Bank of Australia on Tuesday announced its decision to maintain its policy settings. That included keeping its cash rate at 0.1%, largely in line with expectations of analysts.

The Australian dollar changed hands at $0.7627 following an earlier high of $0.766.

CHINA

In Shanghai, the CSI 300 fell 21.22 points, or 0.4%, to 5,140.34.

China’s services sector activity grew in March, according to a private sector survey released Tuesday. The Caixin/Markit services Purchasing Managers’ Index for March came in at 54.3, as compared to February’s reading of 51.5.

PMI readings above 50 represent expansion while those below that level signify contraction. PMI readings are sequential and represent month-on-month expansion or contraction.

In other markets

In Singapore, the Straits Times index doffed 2.11 points, or 0.4%, to 3,207.63.

In Korea, the Kospi index added 6.25 points, or 0.2%, to 3,127.08.

In Taiwan, the Taiex index sprang forward 168.59 points after a long weekend, or 1%, to 16,739.87.

In New Zealand, the NZX 50 flopped 87.83 points, or 0.7%, to 12,400.48.

In Australia, the ASX 200 gained 57.17 points, or 0.8%, to 6,885.86.